Northern Abitibi Mining Corp

Published : November 18th, 2008

Drills High Grade Gold Including 218.79 g/t Over 0.5m & 50.05 g/t Over 3.7m

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Northern Abitibi Drills High Grade Gold at Viking Including
218.79 g/t Over 0.5m & 50.05 g/t Over 3.7m

Breaking News for: November 17, 2008
Trading Symbol:
NAI:TSX-V

Northern Abitibi Mining Corp. (�Northern Abitibi�) is pleased to provide assay results for drill holes 1 and 2 from its recently completed 10 hole drill program at the Viking gold property in Newfoundland.  Both holes have intersected high grade gold mineralization along with larger intervals of lower grade mineralization.

Dr. Shane Ebert, President of the Company commented �We are very pleased with the exploration results from the Viking property.  In one field season the high grade Thor Vein has been discovered by trenching and validated by drilling.  To date the widths and grades we are seeing from the Thor Vein compare favorably to operating underground gold mines in Canada, making it an exceptional exploration project.  This success highlights the excellent exploration potential within the 3 to 4 kilometer long, mostly till-covered, gold-in-soil anomaly on the Viking property.�

Results and Technical Discussion

The Thor Vein consists of a zone 1.5 to 8.0 metres in width, hosting numerous individual quartz-sulfide veins ranging from 0.3 to 1.8 metres wide.  The vein dips moderately to the south and the 2008 drill program has tested it from near surface to approximately 100 metres down dip and it remains open in all directions.  Visible gold has been identified in the majority of holes that intersected the vein.  The location of holes 1, 2, 3 and 5 are shown on the attached cross section.  Hole 4 was drilled approximately 10 metres north of the cross section.  Assay results from holes 08VK-01 and 02 are summarized in the table below.

Hole 08VK-01 intersected a 5.75 metre interval within the Thor Vein from 3.0 to 8.75 metres depth, grading 33.74 grams per tonne (g/t) gold (0.98 ounces per ton), including a 3.7 metre interval grading 50.05 g/t gold (1.46 ounces per ton) and a 0.5 metre interval grading 218.79 g/t gold (6.38 ounces per ton).  Hole 08VK-02 intersected a 3.8 metre interval within the Thor Vein from 6 to 9.8 metres depth, grading 16.12 g/t gold (0.47 ounces per ton), including a 0.4 metre interval grading 35.84 g/t gold (1.05 ounces per ton), and 0.5 metres grading 41.66 g/t gold (1.22 ounces per ton).  

Holes 08VK-01 and 2 both intersected a second smaller high grade �Footwall Vein� running roughly sub parallel to the Thor Vein but located about 30 metres below it.  This is a narrow quartz sulfide vein containing visible gold and has returned grades of 4.68 g/t gold (0.14 ounces per ton) over 1.0 metre in hole 08VK-01 and 37.62 g/t gold (1.10 ounces per ton) over 1.0 metre in hole 08VK-02.  To date the Footwall Vein has only been tested by holes 08VK-01 and 2.  Sheeted and locally stockwork quartz veinlets occur between and surrounding the two high grade veins, potentially making a low grade bulk minable target.  In hole 08VK-01 the zone of sheeted quartz veining returned 0.73 g/t gold (0.02 ounces per ton) over 33.3 metres from 6.7 to 40 metres depth.  In hole 08VK-02 the zone of sheeted quartz veining returned 2.88 g/t gold (0.08 ounces per ton) over 4.2 metres in the hanging wall of the Thor Vein and 0.93 g/t gold (0.03 ounces per ton) over 5.2 metres in the footwall.  The lower part of the hole contains variable gold grades ranging from anomalous to 7.02 g/t (0.20 ounces per ton), and the last interval sampled returned 2.05 g/t gold (0.06 ounces per ton) over 1.3 metres.

Summary of significant drill intercepts from holes 08VK-01 and 08VK-02 � Viking Project

Drill Hole   

From (m)

To (m)

Width (m)*

Au

g/t

Au OPT**

Ag

g/t

Description

08VK-01

3.0

8.75

5.75

33.74

0.98

8.5

Altered granite, gneiss, large quartz veins

including

3.0

6.7

3.7

50.05

1.46

12.6

Altered granite, gneiss, large quartz veins

including

3.6

4.1

0.5

218.79

6.38

55.1

Quartz-sulfide vein

and

6.7

40.0

33.3

0.73

0.02

0.3

Altered granite and gneiss, quartz veinlets

and

37.5

38.5

1.0

4.68

0.14

1.0

Altered granite with 15 cm quartz vein

 

 

 

 

 

 

 

 

08VK-02

1.8

6

4.2

2.88

0.08

0.8

Altered granite with quartz veinlets

and

6.0

9.8

3.8

16.12

0.47

5.5

Quartz veins plus altered granite

including

7.0

7.4

0.4

35.84

1.05

13.0

Quartz-sulfide vein

including

9.3

9.8

0.5

41.66

1.22

15.4

Quartz-sulfide vein

and

13.6

18.8

5.2

0.93

0.03

0.4

Altered granite with quartz veinlets

and

33.4

34.0

0.6

7.02

0.20

2.6

Altered granite with quartz veinlets

and

42.2

43.2

1.0

37.62

1.10

4.1

Altered gneiss with 6 cm quartz vein

and

50.0

51.3

1.3

2.05

0.06

0.2

Altered gneiss with quartz veinlets

 

 

 

 

 

 

 

 

*The true widths of the mineralized intercepts are estimated to be 92% of the drill intercept for hole 08VK-01 and 88% of the drill intercept for hole 08VK-02.  **OPT = troy ounces per short ton. 

The company is extremely pleased with the results of the Viking drill program to date.  Drilling has demonstrated that the Thor Vein is high grade, has good widths, and is continuous over the area drilled.  The zone remains open in all directions and has excellent potential to develop into a significant and high quality gold resource.  

Assay results for holes 3 to 10 should be available for release within the next few weeks.

Quality Control

The NQ size drill core has been photographed and cut in half with a rock saw, with half of the core sent to Eastern Analytical Ltd. in Springdale, Newfoundland for analyses.  One half of the core is retained on site for verification and reference purposes.  Gold is assayed by standard fire assay methods with 30 additional elements analysed by Induced Coupled Plasma (ICP).   All gold samples with greater than 15 g/t gold are re-assayed using a metallic sieve procedure to reduce the nugget effect created by free gold particles in the samples.

Duplicate samples, blanks, and certified standards are included with every sample batch and then checked to ensure proper quality assurance and quality control (QA/QC).  Duplicate samples of select veins have been sent to an outside laboratory for independent analyses as part of a check assay procedure.

Northern Abitibi

Northern Abitibi�s technical team of experienced, professional geologists are assembling a portfolio of gold, nickel and other base metal projects from opportunities within Canada, Mexico and the United States.  Northern Abitibi can earn a majority interest in the Viking project from Altius Resources Inc. by making staged share and cash payments and funding exploration over a period of 4 years.  A description of the Viking project is available on our website (www.naminco.ca).

The drill program was supervised by Dr. Shane Ebert, P.Geo., and Dr. Stephen Rowins, P.Geo.  Dr. Shane Ebert, P.Geo., is the Qualified Person responsible for the preparation of this news release. 

�Shane Ebert�

Shane Ebert, President/Director

Contact:
Shane Ebert at 1.250.964.2699, OR
Jean Pierre Jutras at 1.403.233.2636 
Web: 
http://www.naminco.ca
 

Click Here for a Free Real-time Stock Quote on NAI:TSX-V

 

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
 

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as �expects�, �projects�, �plans�, �anticipates� and similar expressions, are forward-looking information that represents management of Northern Abitibi�s internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Northern Abitibi. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Northern Abitibi�s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Northern Abitibi�s filings with the Canadian securities authorities. Accordingly, holders of Northern Abitibi shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Northern Abitibi disclaims any responsibility to update these forward-looking statements.

 



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Northern Abitibi Mining Corp

EXPLORATION STAGE
CODE : NAI.V
ISIN : CA6647241018
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Northern Abitibi Mining is a gold and cobalt exploration company based in Canada.

Its main exploration properties are SOUTH VOISEY BAY, TAYLOR BROOK, DOUAY NORTHWEST and VIKING in Canada.

Northern Abitibi Mining is listed in Canada. Its market capitalisation is CA$ 1.1 millions as of today (US$ 806 842, € 756 657).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 0.44, and its lowest recent point on January 01, 2016 at CA$ 0.01.

Northern Abitibi Mining has 107 310 000 shares outstanding.

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Financings of Northern Abitibi Mining Corp
3/28/2011Announces Non-Brokered Financing
Nominations of Northern Abitibi Mining Corp
6/19/2012Appoints Interim Chief Financial Officer
Project news of Northern Abitibi Mining Corp
10/17/2012(Viking)Shareholders Approve the Sale of the Viking Property to Spru...
12/7/2011(Viking)Announces New Resource Estimate for Viking With 55% Increase...
9/19/2011=2E: New Zones of Gold Mineralization Discovered at Surface
8/18/2011(Viking)Announces Additional Drill Results From Viking and the Disco...
7/27/2011(Viking)Announces Additional Drill Results from Viking Including 1=2...
6/28/2011(Viking)Announces Drill Results from Viking Including 1=2E3 Metres G...
5/17/2011(Viking)Drilling Commences at Northern Abitibi's Viking Project
4/21/2011(Viking)Receives 2011 Exploration Permits and Signs Drill Contract
3/30/2011(Viking)Announces 2011 Exploration Plans for Viking
3/2/2011(Viking)Announces Initial Independent Gold Resource Estimate for Vik...
8/19/2010(Viking)Provides Summary of Additional Gold Targets at Its Viking Pr...
8/12/2010(Viking)Intersects More Gold at Viking
7/13/2010(Viking)Announces Additional Drill Results From Viking Including 8=2...
6/22/2010(Viking)Announces Widest MineralizedDrill Intersections at Viking to...
5/27/2010(Viking)Continues to Intersect High Grade Gold at Viking
5/3/2010(Viking)Commences Drilling at Viking
4/7/2010(Viking)Receives Exploration Permits for Viking Drill Program
11/18/2008(Viking) Drills High Grade Gold Including 218.79 g/t Over 0.5m & 50....
Corporate news of Northern Abitibi Mining Corp
3/9/2015Acquires Cariboo Gold Property in British Columbia
3/9/2015Northern Abitibi Acquires Cariboo Gold Property in British C...
12/17/2014Northern Abitibi Annouces Trenching Results for Ches Includi...
10/30/2014The 2014 Exploration Program Has Been Completed at Northern ...
10/2/2014Exploration to Commence at Northern Abitibi's Ches Property,...
8/21/2014Fire Delays Exploration at Northern Abitibi's Ches Property,...
6/2/2014Northern Abitibi Announces Results of Annual & Special Meeti...
5/13/2014Northern Abitibi Receives Approval for the Ches Property Opt...
4/28/2014Northern Abitibi Approves Exploration Budget for Ches Proper...
4/23/2014Northern Abitibi Options Ches Property in British Columbia
7/9/2013Enters Into an Agreement to Sell Its Interest in the Sarah L...
10/29/2012(Viking)Completes Viking Property Sale to Spruce Ridge Resources and...
8/14/2012(Viking)Consolidates the Viking District Through a Sale of Viking to...
5/8/2012Receives $100,000 Grant
1/9/2012Files Technical Report
1/28/2009Romarco Encounters 60.6 meters of 6.9 g/t Au at Haile
1/21/2009Gold Star Acquires West African Oil and Gas Consessions
1/22/2009Gold Company Assays 2.45 Metres Averaging 38.17 g/t Au From ...
1/21/2009Romarco Encounters a 57.4 Meter Aggregate Zone of 2.8 G/T Au...
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